Categories: Energy
Topics: General Energy

Early Stage Opportunity as Tiny Miner Confirms Giant Salt Dome Structure

Atco Mining Inc. (CSE: ATCM)(OTC: ATMGF) — currently trading undiscovered around C$0.10 per share — has confirmed at least one salt structure suitable for hydrogen storage at its Flat Bay salt dome project in St. Georges Bay Basin, Newfoundland, Canada. 

The advancement comes as Newfoundland is making a strong push toward becoming a global epicenter of green hydrogen production, with billions of investment dollars already flowing in, by way of the district’s vast wind resources with plans in place for hydrogen storage in the area’s giant underground salt caverns. 

Early Stage Opportunity as Tiny Miner Confirms Giant Salt Dome Structure

The recently completed 2D modeling at Atco’s Flat Bay prospect was performed by industry leader RESPEC Consulting, which pegs the maximum thickness of the newly confirmed salt dome structure at 1,700 meters with potential hydrogen storage volume of 2 million cubic meters. 

Atco Mining Inc.newly confirmed salt dome structure at 1,700 meters with potential hydrogen storage volume of 2 million cubic meters.

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Jai Duhan, Subsurface Energy Storage Consultant at RESPEC, commented via press release:

“The gravity and 2D seismic data show the potential presence of a thick salt structure suitable for hydrogen storage cavern development at Atco’s Flat Bay Project site. RESPEC is currently working on developing the 3D geological model of the salt structure and is looking forward to assisting Atco in defining the appropriate next steps in its exploration program.”

Atco is in excellent hands with RESPEC leading the geological modeling as the firm has established itself as an industry leader with the evaluation of over 1,000 salt caverns in nearly every major cavern storage region in the world, including Newfoundland. 

RESPEC’s ongoing 3D geological modeling will focus on:

  • Delineating the placement of future core well locations at Flat Bay
  • Defining the dimensions of the newly-identified salt structure
  • Estimating the potential number of salt caverns available for development onsite
  • Forecasting the potential amount of hydrogen that could be stored in salt caverns in Atco’s project area

As we’ve been reporting on, Flat Bay is one of Atco’s portfolio of eight 100%-owned salt projects (spanning a combined ~21,000 hectares), making the company one of the premier landholders in this tier-one Canadian mining district.

Flat Bay is one of Atco’s portfolio of eight 100%-owned salt projects (spanning a combined ~21,000 hectares), making the company one of the premier landholders in this tier-one Canadian mining district.

In fact, Atco, at a market cap of just C$4.7M, holds more acreage in the district than its two much larger market-cap peers: Atlas Salt (~8,000 hectares; ~C$118M market cap) and Vortex Energy (~17,000 hectares; ~C$90M market cap). 

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With lots of runway ahead for Atco Mining, we’ll keep you posted on results from the ongoing 3D modeling at Flat Bay once they’re released. 

In the meantime, be sure to check out our ongoing series of exclusive interviews with top Atco Mining personnel — including CEO Etienne Moshevich and director Neil McCallum — as the company continues to make accelerated progress across its vast salt dome project portfolio.   

For additional information on Vancouver-based Atco Mining, please be encouraged to contact the company’s IR department at 604-512-5624 or via email at info@atcomining.com. 

Sign up to receive updates directly from the company at the Atco Mining corporate website.

Mike Fagan

Mike Fagan
Editor, Resource Stock Digest